L&G takes on Aviva over pensions benefits

Aviva says a person with a starting salary of 20,000 at aged 22 would accrue a £378,054 pensions pot by retirement at 65 under its proposed harmonised 30% tax relief. Under the current two tier tax system they would only accrue £330,797. But L&G says a uniform 30% will hit 40% taxpayers meaning they save less in pension plans. Legal & General pensions strategy director, Adrian Boulding, says: "Beware the siren cries of those advocating a new uniform rate of tax relief for all savers. "Behind their banner of 'fairness' lies an attack on pension savings, which will reduce the tota...